But they don't have to make money, right? They don't and they don't. They lose quite a lot. The federal government offers the flood insurance program because insurers can't really accurately cover all those things. So it is a supplement to the market and the federal government is involved there. Terrorism risk, insurance. Another thing the federal government gets involved in overwhelmingly a state issue. (01:51–02:00)
CLAIM
Asserts that the federal government provides flood insurance because private insurers cannot accurately cover all flood risks.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
